DB Corp reported total revenue of Rs 629 crore in the third quarter of FY26

DB Corp delivered a subdued performance in the third quarter of FY26, with revenue and profitability declining year-on-year, while sequential trends remained largely flat.

For the quarter ended December 31, 2025, the company reported total income of Rs 629.3 crore, down 4 percent from Rs 655.6 crore in Q3 FY25 and marginally lower by 0.8 percent compared with Rs 634.7 crore in the previous quarter. Revenue from operations stood at Rs 605.3 crore, marking a 5.8 percent year-on-year decline from Rs 642.7 crore, and a 1.5 percent sequential dip from Rs 614.4 crore in Q2 FY26.

At the operating level, consolidated EBITDA came in at Rs 159.2 crore, down 16.3 percent from Rs 190.2 crore a year ago. On a quarter-on-quarter basis, EBITDA remained stable, inching up 0.5 percent from Rs 158.4 crore in the preceding quarter.

Profit before tax for the quarter was Rs 128.8 crore, marginally higher by about 2 percent sequentially, but nearly 19.5 percent lower than Rs 160.1 crore reported in the corresponding quarter last year. Net profit stood at Rs 95.5 crore, up 2.2 percent quarter-on-quarter from Rs 93.5 crore, but down 19.2 percent year-on-year from Rs 118.2 crore.

Segment-wise, the printing, publishing and allied businesses continued to contribute the bulk of revenues. Advertisement revenue from print and other businesses declined 6.9 percent year-on-year to Rs 398.6 crore, compared with Rs 428.2 crore in Q3 FY25, and fell 1.6 percent sequentially from Rs 405.1 crore. Radio advertisement revenue remained under pressure, dropping 15.7 percent year-on-year to Rs 41.0 crore and slipping 4.3 percent quarter-on-quarter.

Circulation revenue came in at Rs 117.8 crore, reflecting a decline of 1.4 percent year-on-year and 2.5 percent sequentially, indicating continued softness in reader revenues. In contrast, consolidated other operating revenue provided some support, rising 21.1 percent year-on-year to Rs 72.0 crore and increasing 8.9 percent on a sequential basis.

On the profitability front, EBITDA from print and other businesses declined 14.5 percent year-on-year to Rs 146.5 crore, though it was marginally higher by 0.8 percent compared with the previous quarter. Radio EBITDA fell sharply by 32.1 percent year-on-year to Rs 12.7 crore and was down 2.4 percent sequentially, underscoring ongoing stress in the radio advertising market.

Commenting on the performance, Sudhir Agarwal, managing director, DB Corp, said the company delivered a stable quarter despite a higher base in the same period last year due to festive spending and state elections. He noted that a larger share of festive advertising shifted to the September quarter this year, making year-on-year comparisons less comparable. Agarwal added that advertiser sentiment improved sequentially through the quarter, supported by cost discipline and operational efficiencies that helped sustain margins.

Looking ahead, Agarwal said the company remains optimistic about the consumption outlook, citing the upcoming Union Budget, potential revisions in government pay and allowances, and other policy measures as possible tailwinds in the fourth quarter. He added that improving sequential trends, coupled with DB Corp’s strong brands, editorial connect and expanding digital reach, position the company to capture emerging opportunities over the medium to long term.